https://www.taxtmi.com/caselaws?id=62216 A mere agreement to sell with possession handed over did not justify taxing notional lease rent as income from other sources, because no rent or licence fee had actually accrued or been received; the addition was deleted. Even on a house-property approach, the authorities could not rely on an artificial rent and had to apply the proper valuation basis, including standard rent principles where relevant. Interest received from the vendee on unpaid instalments was separate from the sale consideration and retained the character of income, so it was assessable as income from other sources; that addition was sustained. en-us Mon, 06 Jul 1992 00:00:00 +0530 Tue, 18 Jan 2011 15:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62216 A mere agreement to sell with possession handed over did not justify taxing notional lease rent as income from other sources, because no rent or licence fee had actually accrued or been received; the addition was deleted. Even on a house-property approach, the authorities could not rely on an artificial rent and had to apply the proper valuation basis, including standard rent principles where relevant. Interest received from the vendee on unpaid instalments was separate from the sale consideration and retained the character of income, so it was assessable as income from other sources; that addition was sustained. Case-Laws Income Tax Mon, 06 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62216